A scandal is brewing in Nigeria over prices paid by the government for imported fuel. International fuel
traders have been falsifying the dates of bills of lading to reflect particularly high market prices, overcharging the
Nigerian National Petroleum Corporation (NNPC) by $300 million or more.
On April 2, Chris Finlayson, Chairman and Managing
Director of Shell Petroleum Development Corporation of
Nigeria (SPDC), told Consul General and Econoff that a
scandal is brewing within the NNPC over payments made to
international fuel marketers. Finlayson said some marketers have been changing the dates when fuel shipments bound for Nigeria were loaded in order to take advantage of particularly high market prices. He said the total overpayment by NNPC may be as high as $330 million.